Video News/NBC London CEO Mining Conference 2025

Lundin Gold (TSX: LUG) President and CEO Jamie Beck says the next stage of growth at the company’s high-grade Fruta del Norte mine will be driven by an expanded exploration program following 108,000 meters of drilling in 2025. Speaking with Kitco Mining at the 2025 NBF CEO Mining Conference in London, Beck said joining a “really high functioning team” has been a privilege and noted that strong free cash flow, a debt free balance sheet and $4,000 gold continue to support the company’s fixed $300 million dividend and variable payout set at a minimum of 50 percent of free cash flow. Beck highlighted ongoing success from conversion drilling, including five meters of almost 500 grams per ton at Fruta del Norte East, and near mine work that is outlining a potential porphyry district with copper gold intercepts such as 200 meters grading 0.75 percent copper and 0.18 grams per ton gold from surface at Sandia. He said Ecuador’s new exploration tax will affect smaller operators more than Lundin Gold and added that the company remains patient on M&A as it continues to strengthen community relationships, advance regional targets and outline its drilling plans for 2026.